Essen-Altenessen-Süd: Apartment building with 6 apartments & courtyard building

Key facts

Purchase price & costs

About this investment property

This multi-family building is aimed at investors seeking a manageable structure, ongoing letting and an established property that is easy to assess. The property is suitable for investors who value clarity of use, a regular income situation and long-term ownership.

Property & condition
The building was constructed around 1905 and, in terms of its design, reflects the classic style of the turn of the century. The property is presented in a well-maintained condition and has a clearly structured layout of the residential units.
The offering comprises a total of seven residential units, distributed between a main building and a courtyard building. The apartment sizes are functionally laid out and dimensioned in line with the market. The ground-floor and attic units were each created by combining two formerly smaller units and are now presented as interconnected apartments. This results in a clearer floor-area structure that fits well into the overall configuration of the building and further simplifies management.
There are currently no approved existing floor plans under building law for the building. The relevant documents are currently being inspected and processed at the responsible building authority. This procedure is not unusual for properties of this construction period and serves to ensure proper documentation and clear classification under building law.

Management & income
The multi-family building is fully let. Rental income is regular and transparent and is based on a broadly diversified tenant structure. With a total lettable area of approx. 398.5 m², this results in a readily comprehensible income profile suitable for long-term ownership. Management is straightforward and can be carried out without increased complexity.
Flexibility & strategic classification
The property is suitable both as a stable component of an existing portfolio and as an entry into a structured residential property investment. Looking ahead, the building can be carefully further developed as part of a long-term holding strategy, without short-term pressure to act or mandatory measures.

Future & classification
The technical and functional features correspond to a solid existing-property standard. The clear property structure, sustainable residential use and established location provide a good basis for long-term lettability and a quiet positioning within the residential real estate segment.

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Rental schedule

APARTMENT 01
Location: Ground floor, left and right
Lettable area: approx. 100.00 m²
Monthly net cold rent: EUR 823.50
Net cold rent per m²: EUR 8.24/m²

APARTMENT 02
Location: 1st upper floor, left
Lettable area: approx. 35.00 m²
Monthly net cold rent: EUR 350.00
Net cold rent per m²: EUR 10.00/m²

APARTMENT 03
Location: 1st upper floor, right
Lettable area: approx. 60.50 m²
Monthly net cold rent: EUR 439.20
Net cold rent per m²: EUR 7.26/m²

APARTMENT 04
Location: 2nd upper floor, left
Lettable area: approx. 52.00 m²
Monthly net cold rent: EUR 348.00
Net cold rent per m²: EUR 6.69/m²

APARTMENT 05
Location: 2nd upper floor, right
Lettable area: approx. 52.00 m²
Monthly net cold rent: EUR 370.00
Net cold rent per m²: EUR 7.12/m²

APARTMENT 06
Location: Attic floor
Lettable area: approx. 35.00 m²
Monthly net cold rent: EUR 332.50
Net cold rent per m²: EUR 9.50/m²

APARTMENT 07 (courtyard building)
Location: Extension
Lettable area: approx. 64.00 m²
Monthly net cold rent: EUR 512.00
Net cold rent per m²: EUR 8.00/m²

Summary
Total residential and usable area: approx. 398.50 m²
Monthly net cold rent: EUR 3,175.20
Annual net cold rent: EUR 38,102.40
Average net cold rent: approx. EUR 7.97/m²
Occupancy status: 100% rented
Macro location
The property is located in Essen, an established major city in the Ruhr region with sustained demand for housing. The location provides a reliable basis for sustainable residential letting within an urban environment.

Micro location
The property is located in the Altenessen-Süd district, an established residential area predominantly characterized by multi-storey residential buildings. The surroundings are functionally oriented and designed for long-term residential use.

Public transport is within walking distance and provides good connections to other districts as well as Essen city centre. Shops for daily needs, schools and everyday amenities are located nearby. The connection to private transport is also provided, making the location suitable for various tenant groups in the long term.
- Fully rented apartment building with courtyard building

- Six residential units

- Manageable and transparent management

- Well-maintained, sound building fabric

- Market-oriented apartment sizes

- Suitable for long-term portfolio holding
The property description is based wholly or partially on information provided by the owner.
The accuracy and completeness of this information we accept no liability.

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